According to a Forbes report, Tether has entered into a substantial $420 million agreement involving artificial intelligence chips and the Bitcoin mining company Northern Data.

The report indicates that Tether has invested $420 million in the acquisition of 10,000 Nvidia H100 GPUs, representing approximately 2% of Nvidia’s total shipment of 550,000 GPUs for the year. The H100 is recognized as the most advanced chip ever created, boasting significant advancements designed to accelerate artificial intelligence (AI), high-performance computing (HPC), memory bandwidth, interconnectivity, and data center-scale communication.

This significant acquisition was executed on behalf of Northern Data, a German cryptocurrency mining firm with ambitions to offer cloud access to these specialized chips for AI startups. In exchange for this arrangement, Tether will secure a substantial 20% ownership stake in Northern Data.